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Who killed Westinghouse? Logo
Stories by Steve Massey * Illustration by Daniel Marsula

Wheeling and dealing

Michael Jordan started making changes at Westinghouse soon after he became chairman and CEO in July 1993, selling and buying until he had remade the company into what it is now, a radio and television behemoth.

Sales

Date Company/sector $ billion
Jan. 1994 Distribution and controls 1.10
Feb. 1994 Electrical supplies 0.34
July 1995 Westinghouse Communities (land development) 0.43
March 1996 The Knoll Group (office furniture) 0.56
March 1996 Defense electronics 3.00
Dec. 1996 Westinghouse Security Systems 0.43
Oct. 1997 Thermo King (refrigerated transport) 2.56
*Nov. 1997 Power generation 1.53
Total 9.95

Acquisitions

Date Company/sector $ billion
Nov. 1995 CBS 5.40
Dec. 1996 Infinity Broadcasting 4.70
*Sept. 1997 American Radio Systems 2.60
Oct. 1997 The Nashville Network, Country Music TV 1.55
1995-97 Others 1.50
Total 15.75

*pending

Source: Corporate reports



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